Moderna (MRNA) Recently Broke Out Above the 50-Day Moving Average

From a technical perspective, Moderna (MRNA) is looking like an interesting pick, as it just reached a key level of support. MRNA recently overtook the 50-day moving average, and this suggests a short-term bullish trend.The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.MRNA has rallied 14.8% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests MRNA could be on the verge of another move higher.The bullish case solidifies once investors consider MRNA's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 6 higher, while the consensus estimate has increased too.Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on MRNA for more gains in the near future.Free Report: Profiting from the 2nd Wave of AI ExplosionThe next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives.Investors who bought shares like Nvidia at the right time have had a shot at huge gains.But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies.Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI’s next leap forward.Access AI Boom 2.0 now, absolutely free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Moderna, Inc. (MRNA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks